Superstar CEOs

Some people like Michael Jordan and Tiger Woods are so talented they can be classified as superstar athletes. Some singers such as Whitney Houston (pre-crack of course), Celine Dion (hurl) and rock singers such as Steven Tyler and Chris Cornell can be classified as superstar performers. And then there are superstar CEO's such as Lee Iacocca who can take a near bankrupt company and turn it around into a profitable one.

Now here's a note to all the other CEO's out there. Just because you are a CEO doesn't mean you're a superstar. You are just one of thousands of CEO's in America, and you should not be paid superstar wages or superstar bonuses just because you are in charge of a company. Superstar wages and bonuses should come with superstar performance, like Bill Gates, Jack Welch (even though I don't like the guy) or Iacocca. Currently in ECON201 we are covering distribution of income and social programs used to reduce the GINI index (the rate between actual income distribution across the population vs. perfect income distribution across the population). I don't know how my uncle lasted so long in the public sector dealing with some of these programs in our country and others. I'm depressed just reading the chapter.

After watching the ABC News report of the Ford and GM CEO's flying in on private jets as they ask Congress for $25 billion, I come to wonder how these CEO's and others in different industries can be so out of touch with how their lifestyles compare with those of their workers and other average Americans. Is this Right of Luxury mentality instilled in them in business school, or does the job naturally attract self-centered people? I am so happy that Congress has decided to cancel the auto company bail-out vote. I hope this is the first message of many that restructuring the failing companies needs to start with a good look at the top and how much money they are wasting. Now here's another idea for Congress – NO MORE MONEY FOR AIG!